Playtech even have their towels reserving the sunbeds!

We have been reliably informed that the gaming software giant Playtech is continuing in its plans at world online gaming domination and as such have just signed a deal to supply online casino and poker products to one of the largest European brick and mortar gaming companies, Casino Gran Madrid (CGM).

Playtech will be supplying the software to the Spanish company through its iPoker network. The Spanish online Gaming market is certainly on the increase with recent reports that online bingo is also seeing a period of growth at present. Casino Gran Madrid see the agreement with Playtech as a viable way to take their land based casino and gaming expertise and reputation to the much wider online gaming audience.

Director of Information Systems for Casino Gran Madrid, Jorge Casanova, said of the deal "Our agreement with Playtech strengthens CGM's leading position in the Spanish casino market. With our casino brand and games available online we are delighted to be leading gaming development in Spain through Playtech's innovative, secure and transparent system."

It has also been reported that the online casino and gambling software company has shown a 55% increase in their net profit, the 2008 figures show the net profit stood at €40.7m which has prompted the company to make the decision to increase its dividend by almost 50 per cent. The interim Chief Finance Officer for Playtech has also made reference to the fact that €300m could be achieved to fund an acquisition if debt was raised to 2.5 times EDITDA, however he then went on to clarify the position with the Financial Times stating that Playtech had no immediate plans for this although in theory they could should the need arise.

Playtech have also been reported to be increasing their product portfolio by moving into the sports betting market. The move comes after the recent purchase of sports betting software company Player2Player and the much publicized deal with William Hill last year where in exchange for a package of assets, contracts etc Playtech acquired a 29% in the bookmakers.